The Piecemeal Man (abmann) wrote,
The Piecemeal Man

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RIP Housing Market.

Fed: Hey, Banks? People can't pay those variable rate loans.
Banks: Holy crap! But don't people HAVE to pay our skyrocketing mortgages? Cuz that was a pretty good idea for us.
Fed: Well, no they don't really have to, per se. See, America has decided saving money is for suckers when you can have 16 iPods right now.
Banks: Wait, wait. But everyone before that used to pay those loans back all the time before. Why aren't they now?
Fed: True. But those mortgages didn't skyrocket two or three years into the loan, right?
Banks. Darn! You're right. But they can just declare bankruptcy and slowly pay back all the money, right?
Fed: Um. We made that really hard to do a few years ago, remember?
Banks: So you're saying that Americans were dumb enough to buy into our "low cost" loans without thinking about how to pay them off over time? And now they can't pay them back so we're out billions of dollars thereby molesting the American economy?
Fed: Yeah. Could you stop doing that?
Banks: You should have said something a few years ago, jerk.
Fed: Shut up. I can't hear my iPod.
Did anyone else see this coming? <raises hand>

Let me tell you, my whole "save up and buy a house plan?" Looking pretty good. And after the houses have sat for three years cuz the banks won't give loans to people with out cash upfront, I can get my dream home for a song.

Unrelated! 254 uses of Vinegar. Window cleaner? I'm never buy Windex again. Plus, I now have a use for all those stupid "News" papers that are nothing but advertisements.
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